Durham's version of 'Dragon's Den' open to new, start-up companies

Ignite

The Spark Centre is holding Ignite, an initiative in which two start-up businesses will each receive $25,000 in cash, a further $25,000 in in-kind services and mentoring and expert advice.

Martin Croteau, the executive director of the Spark Centre, said, "We're giving $25,000 in cash and that's key to allow them to get up and running."

It's open to all start-up companies located in Durham or that will be located in the region, he noted.

"It's absolutely open to any kind of business," he added. "We want everyone to apply," he said,

Corporations with more than $1 million in sales or in business for more than five years aren't eligible.

In addition to the cash, the two companies will be put through a 'boot camp,' which will help move the business forward. The $25,000 of in-kind services includes office space, business education and training, legal services, accounting, banking services, marketing and creative design.

Among those giving expert advice are Bruce Croxon, one of the panelists on The Dragon's Den, and Jeff Quipp, president and CEO of the Pickering-based Search Engine People.

"There's a whole ton of additional support from experts in the community," Mr. Croteau noted.

He described the endeavour as "like Durham's very own Dragon's Den, only it's not that scary.

"We put them through a pretty rigourous process. It has a lot of value," he added.

Applications are being accepted until Jan. 11, and then a 'Pitch Night' is slated for Monday, Feb. 4. The 'pitch school' is where applicants will have to make the case for their business being one of the two chosen.

"Everyone who applies will give a 90-second pitch on 'Why I should be one of the two companies,'" Mr. Croteau said.

Once the businesses are selected, they'll go through the four-month boot camp.

"We'll find a way for everybody who applies to get something out of it," he said.